AR HB1253

Repeals Arkansas Code § 26-52-512, which required retailers with average monthly net sales exceeding $200,000 to prepay sales taxes by electronic funds transfer.

Modifies § 26-19-107(b) to remove references to § 26-52-512, so taxpayers who fail to pay by electronic funds transfer are only ineligible for benefits under § 26-52-503.

Eliminates prepayment options that previously allowed retailers to pay 40% of estimated tax twice monthly or 80% by the 24th of each month.

Removes the 2% discount (up to $1,000 monthly) previously available to retailers who made timely prepayments and filed their monthly gross receipts tax reports.

Becomes effective on the first day of the calendar quarter following the bill's enactment date.